CG issues various CGST and IGST Notifications along with 5 Final Rules & formats

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Moving swiftly towards the rollout date of July 1, 2017 for the first-of-its-kind mammoth indirect tax reform post independence in India, the Central Government, has issued certain Notifications under Central GST (“CGST”) and Integrated GST (“IGST”) all dated June 19, 2017. Further, the finally approved 5 Rules along with their formats, as approved by the GST Council in their recent meeting held on June 18, 2017, have also been put on public domain.

  • 6 CGST Notifications issued

Following 6 Notifications have been issued under CGST:

Notification No. Date Particulars
01/2017-Central Tax June 19, 2017 Seeks to bring following sections of the CGST Act, 2017 into force w.e.f. 22.06.2017:

Sections 1, 2, 3, 4, 5, 10, 22, 23, 24, 25, 26, 27, 28, 29,30, 139, 146 and 164 of the CGST Act, 2017

02/2017-Central Tax June 19, 2017 Notifying jurisdiction of Central Tax Officers
03/2017-Central Tax June 19, 2017 Notifying the CGST Rules, 2017 on registration and composition levy
04/2017-Central Tax June 19, 2017 Notifying www.gst.gov.in as the Common Goods and Services Tax Electronic Portal
05/2017-Central Tax June 19, 2017 Seeks to exempt persons only engaged in making taxable supplies, total tax on which is liable to be paid on reverse charge basis
06/2017-Central Tax June 19, 2017 Modes of verification under CGST Rules, 2017 i.e. Aadhaar based Electronic Verification Code (EVC) and Bank account based One Time Password (OTP)

 

  • 2 IGST Notifications issued

Following 2 Notifications have been issued under IGST:

Notification No. Date Particulars
01/2017-Integrated Tax June 19, 2017 Seeks to bring following sections of the IGST Act, 2017 into force w.e.f. 22.06.2017:

Sections 1, 2, 3, 14, 20 and 22 of the IGST Act, 2017

02/2017-Integrated Tax June 19, 2017 Seeks to empower the Principal Commissioner of Central Tax, Bengaluru West to grant registration in case of online information and database access or retrieval services provided or agreed to be provided by a person located in non-taxable territory and received by a non-taxable online recipient.

 

  • 5 finally approved Rules and their related formats

Following 5 Final Rules and their related formats, as approved by the GST Council in their recent meeting held on June 18, 2017 are put on public domain:

  • Advance Ruling – Rules and Formats
  • Anti Profiteering Rules
  • Appeals and Revision – Rules and Formats
  • Assessment and Audit – Rules and Assessment Formats & Audit Formats
  • E-way Rule [Till such time as an E-way bill system is developed and approved by the Council, the Government may, by notification, specify the documents that the person in charge of a conveyance carrying any consignment of goods shall carry while the goods are in movement or in transit storage.]

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